Claritev (NYSE:CTEV) SVP Tiffani Misencik Sells 8,850 Shares of Stock

Claritev (NYSE:CTEV) SVP Tiffani Misencik sold 8,850 shares of Claritev stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $40.07, for a total transaction of $354,619.50. Following the completion of the sale, the senior vice president owned 123,723 shares in the company, valued at approximately $4,957,580.61. This represents a 6.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Claritev Stock Up 0.2%

NYSE CTEV traded up $0.07 on Tuesday, hitting $35.42. The stock had a trading volume of 107,223 shares, compared to its average volume of 164,811. Claritev has a one year low of $11.50 and a one year high of $74.07. The stock has a market cap of $600.26 million, a price-to-earnings ratio of -2.08 and a beta of 0.74. The company’s 50-day moving average is $30.01 and its two-hundred day moving average is $24.08.

Claritev (NYSE:CTEV) last released its quarterly earnings results on Friday, August 7th. The company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of ($4.10) by $5.51. The business had revenue of $257.48 million for the quarter. On average, sell-side analysts anticipate that Claritev will post -15.08 earnings per share for the current year.

Hedge Funds Weigh In On Claritev

Hedge funds have recently modified their holdings of the company. Arini Captial Management Ltd acquired a new stake in shares of Claritev in the fourth quarter valued at $64,291,000. Public Investment Fund bought a new stake in Claritev in the second quarter worth about $43,703,438,000. Vanguard Group Inc. acquired a new stake in Claritev in the 3rd quarter valued at about $27,483,000. Beach Point Capital Management LP lifted its holdings in Claritev by 77.4% in the 4th quarter. Beach Point Capital Management LP now owns 755,002 shares of the company’s stock valued at $32,276,000 after acquiring an additional 329,424 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of Claritev during the 3rd quarter valued at about $7,817,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTEV has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Claritev in a research note on Wednesday, June 24th. Barclays assumed coverage on Claritev in a report on Friday, April 24th. They set an “overweight” rating and a $28.00 price target on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 price objective on shares of Claritev in a report on Wednesday, August 12th. Citigroup reiterated a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Claritev in a research report on Monday, August 10th. Finally, Wells Fargo & Company raised their target price on shares of Claritev from $22.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.83.

About Claritev

Claritev is a healthcare technology, data and insights company focused on improving affordability,  transparency and quality. Led by deeply experienced associates, data scientists, and innovators, Claritev provides tech-enabled solutions and services fueled by multiple data sources from over 40 years of claims repricing. Claritev utilizes world-class technology and AI solutions to power a robust enterprise platform that delivers meaningful insights to drive affordability in healthcare, brings price transparency and optimizes networks and benefits design.